Bitcoin conference stops accepting bitcoin payments

Bitcoin, a digital currency, was created in 2008. Shares of Bitcoin are sold on internet exchanges where users remain anonymous. As the value of the cryptocurrency continues to hit record highs, here’s how it works.

Attendees at next week’s popular cryptocurrency conference are faced with the irony of using cash instead of bitcoin to pay for the event.

The North American Bitcoin Conference (TNABC), which plans to cover a wide array of topics including blockchain technology, initial coin offerings (ICOs) and investment opportunities, has invoked a "no cryptocurrency" policy due to network fees and congestion.

The North American Bitcoin Conference ticketing page states, “Due to network congestion and manual processing, we have closed ticket payments using Cryptocurrencies.”

The cryptocurrency conference will be held in downtown Miami at the James L. Knight Center on Jan. 18-19 and last minute tickets will cost you $1,000.